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The latest insights and trending topics from Begbies Traynor Group
What is a Notice of Intention (NOI) to appoint administrators?
A Notice of Intention to appoint an administrator will halt any legal action from creditors, giving you time to rescue the business from liquidation.
What happens when a limited company goes bankrupt?
When a limited company goes 'bankrupt', the correct term is 'insolvent' which means there is insufficient cash available to pay the bills as they become due.
What is a limited liability partnership?
A limited liability partnership (LLP) is a legal business structure. Professional firms such as solicitors and accountants often choose to set up as limited liability partnerships, but the structure can also be a beneficial option for other types of business.
What are the Advantages and Disadvantages of Debentures?
The reluctance of some banks in offering business loans has resulted in more directors lending to their own company.
What is an insolvency practitioner and what are their duties?
An insolvency practitioner (IP) is licensed to act on behalf of companies and individuals when they are facing insolvency or acute financial distress.
What is company director disqualification?
A director’s disqualification order bans you from acting as a company director due to unfit conduct, but you are able to work as a company employee.
Assistance for Creditors with Retention of Title (ROT) Claims in Insolvency
A Retention of Title (ROT) clause often forms part of a written contract between the supplier and their purchaser, and is likely to have been discussed at some point during negotiation. Retention of Title deals with the legal ownership of goods prior to full payment being made.
How to close a limited company
A limited company can be closed in a number of different ways; this may be via a formal liquidation process, or informally using the strike off (or dissolution) method. The most appropriate option for your company will depend on a number of factors including its level of solvency at the time of closure.
What happens to my CBILS or Bounce Back loan during liquidation or administration?
The Coronavirus Business Interruption Loan Scheme (CBILS) as well as the Bounce Back Loan Scheme, offered a valuable source of emergency finance for businesses during the coronavirus pandemic back in 2020.
What is an Independent Business Review?
An Independent Business Review (IBR) is a process initiated by a bank or similar institution if they have concerns over the financial health of a borrower.
A-Z of Offshore Insolvency, C is for Chapter 11
A serialised guide to some concepts and features encountered in the world of offshore insolvency
Does my personal credit score matter when applying for credit for my business?
Financial institutions base their lending decisions on the level of risk posed by a borrower.
A-Z of Offshore Insolvency, B is for Bonds
Bonds are essentially IOUs issued by companies or governments to raise capital: investors buy bonds from the issuer company, becoming creditors who then receive periodic interest payments. The principal amount is returned when the bond matures.
A-Z of Offshore Insolvency, A is for Agents
Agents, and, more specifically, Registered Agents are the topic of the first article in this series.
